Iron ore clings to $60 a tonne as prices slide again

Quinn Rooney/Getty Images

The spot iron ore price, amidst thin trade due to a public holiday in China, slumped further on Monday.

According to Metal Bulletin’s iron ore index the spot price for 62% fines slid $1.34, or 2.2%, to $60.02 a tonne.

Having hit a multi-month high of $65.61 on June 11 the spot price has now fallen by 8.52%. Year-to-date the decline currently sits at 15.8%.

Following a holiday on Monday Dalian iron ore futures will resume trading at 11am AEST.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at